Germany: Urea Market 2024

Urea Market Size in Germany

In 2022, the German urea market increased by 52% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Urea Production in Germany

In value terms, urea production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 39%. As a result, production attained the peak level of $X, and then shrank in the following year.

Urea Exports

Exports from Germany

In 2022, shipments abroad of urea increased by 71% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, urea exports surged to $X in 2022. In general, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Denmark (X tons) and the UK (X tons) were the main destinations of urea exports from Germany, together comprising 39% of total exports. Spain, Brazil, Poland, the Netherlands, Italy, Norway, Austria, Switzerland, Belgium and Canada lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +25.5%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Poland ($X) and the Netherlands ($X) appeared to be the largest markets for urea exported from Germany worldwide, together comprising 33% of total exports. Italy, Austria, Spain, the UK, Denmark, Switzerland, Brazil, Belgium, Canada and Norway lagged somewhat behind, together comprising a further 48%.

Among the main countries of destination, Italy, with a CAGR of +24.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average urea export price amounted to $X per ton, growing by 23% against the previous year. Overall, the export price enjoyed modest growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 64%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into Germany

In 2022, purchases abroad of urea increased by 258% to X tons, rising for the second consecutive year after four years of decline. Overall, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, urea imports skyrocketed to $X in 2022. Over the period under review, imports posted a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest urea supplier to Germany, with a 45% share of total imports. Moreover, urea imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+12.3% per year) and Russia (-1.7% per year).

In value terms, the Netherlands ($X), Russia ($X) and Poland ($X) constituted the largest urea suppliers to Germany, with a combined 65% share of total imports. Belgium, Egypt, Nigeria, Austria and Lithuania lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, Belgium, with a CAGR of +49.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average urea import price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 65%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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